Bullboard - Stock Discussion Forum Gaia Grow Corp C.GAIA

Gaia Grow Corp. is a Canada-based hemp producer company. The Company, through its wholly owned subsidiary Tru Extracts (Calgary) Ltd. (TruExtracts), is focused on developing, formulating and commercializing cannabinoid-containing end-user facing products, such as edibles, prerolls and concentrates. TruExtracts Laboratories is a cannabis and hemp processors, with an approximately 12,500 square... see more

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Gaia Grow Corp > It gets worse

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Post by StoneMan45 on May 05, 2021 11:09am

It gets worse

https://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00033003&issuerType=03&projectNo=03210931&docId=4943670

Commitments

Enagon On April 3, 2020, the Company entered into an Offtake Agreement (the “Offtake Agreement”) with Enagon Inc. (“Enagon”), a privately held arm’s length company continued under the laws of the Business Corporations Act (Alberta). Pursuant to the Offtake Agreement, the Company would acquire all of the milled hemp at Enagon’s milling facility. The Company concurrently entered into an exclusive Milling Agreement (the “Milling Agreement”) with Enagon, whereby Enagon will provide hemp separation and milling services to the Company. The term of each agreement was for an initial term of 2 years and to December 31, 2020, the conditions pursuant to the Offtake Agreement and Milling Agreement were not executed, mutually, by either party. TO DECEMBER 31, 2020, THE COMPANY HAS ACCRUDE $173,500 IN RELATED INVENTORY PRODUCTION COSTS. ON APRIL 21, 2021, THE OFFTAKE AGREEMENT AND MILLING AGREEMENT WERE TERMINATED.